Bloomberg Businessweek has this fascinating article about some of the risks entrepreneurs and small business owners face when deciding to retire and sell their business. Unlike many of their employees, small business owners often have minimal diversification in their financial and investment portfolios (and instead have concentrated investments in their small business. If business slows down with bad economic conditions or other industry turmoil, the entrepreneur or small business owner risks losing her income and her concentrated investments in her business – a “double whammy” as the article puts it.
Don’t let your business or retirement be hit by the double whammy – plan now and plan well to be sure your future and your business’ future is secure. If we can help you or your family with your small business, estate planning, or business transition needs in Kansas or Missouri, call (913-707-9220) or email (firstname.lastname@example.org) the Johnson Law KC LLC for a convenient appointment.
(c) 2012, Stephen M. Johnson